RBI holds Empowered Committee meeting on Micro Small, Medium Enterprises

By
Daily Excelsior
-

Excelsior Correspondent
Jammu, Dec 31: The 32nd Empowered Committee (EC) meeting on Micro Small and Medium Enterprises (MSMEs) in the State of Jammu & Kashmir was held on December 30 at RBI, Jammu which was chaired by D Sethy, Regional Director, Reserve Bank of India, Jammu and Kashmir. In his address, the Regional Director stated that the main purpose of holding the periodic EC meetings was to facilitate an accelerated growth of MSMEs in the State and also to remove bottlenecks which hinder the smooth flow of credit to the sector. Besides, such a forum also affords an opportunity of direct communications/interactions between various stakeholders i.e. Government, bankers, regulators, industry associations etc. so that the sector could get the necessary guidance, support and  focused  attention  from  all  concerned  for  its  smooth  functioning  and  progress.
He highlighted the role being played by the MSMEs in employment generation, exports, traditional handicraft & handloom industry of the State etc., and stated that the large potential available in the sector was yet to be tapped in the State. He also reiterated that there was a need to increase awareness about various facilities and schemes available to the entrepreneurs from the Govt. of India, banks and State Govt. and the responsibility lied with the all stake holders concerned.
The gathering was informed that the advances to Micro Small Enterprises (MSE) sector increased from Rs.8365.08 crore as on September 30, 2014 to Rs.10383.64 crore as on September 30, 2015, registering an increase of 24.13 percent growth year on year basis. Further, the number of accounts which stood at 256550 units as on September 30, 2014 had increased to 282834 units as on September 30, 2015, registering 10.25 percent growth year on year basis.
The banks collectively surpassed target of 10 percent growth in number of accounts and 20 percent growth in credit dispensation YoY basis.The meeting was attended by GM, RBI, controllers of major banks, convener SLBC, SIDBI,senior officials from Industries& Commerce Depa-rtment, Kashmir and Jammu, MSME-DI, JKSFC, Handicrafts, SIDCO and representatives from Industry Associations & Chamber of Commerce of both Jammu and Kashmir, etc.


WhatsApp Icon Follow our WhatsApp channel